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Tom Meaglia, ChFC®, AEP®,

CLU®, CRPC®, MSFS

Chartered Financial Consultant

Investment Advisor Representative

Chartered Retirement Planning Counselor

CA Insurance Lic. #0567507

 

Meaglia Financial Consulting

2105 Foothill Blvd., #B140, La Verne, CA 91750

 

Toll Free: 800-386-3700

Bus:         909-593-6105

Cell:         818-681-8600

Fax:         909-593-6120

 

Email: tom@meagliafinancialconsulting.com

Website: www.meagliafinancialconsulting.com

May/June 2021

Charitable Giving: A Win-Win

Charitable Giving A Win-Win

Is giving to charity on your to-do list? Making a charitable donation to a nonprofit organization allows you to support a cause that's important to you and take a tax deduction.


Research the Choices
You can find information about nonprofits on Charity Navigator (charitynavigator.org) and BBB Wise Giving Alliance (give.org). These organizations help donors make informed giving decisions by evaluating charities based on their finances, governance and effectiveness. Knowing how much of your donation will go toward the charity’s mission, rather than toward its administrative costs, for example, may help you decide which organization will use your funds most effectively.


There are many ways, other than donating cash, to benefit a charity. Consult your financial and tax professionals for guidance.


Gift Appreciated Stock
Consider gifting shares of stock that have appreciated in value to your favorite charity. By giving appreciated stock directly to a charitable organization, you’ll avoid paying capital gains tax on a sale and receive a charitable deduction for your donation. Because of its nonprofit status, the charity won’t pay taxes on your gift.


Set Up a Donor-Advised Fund
A donor-advised fund is a tax-advantaged investment account used for charitable giving. You set up the fund by making an irrevocable donation of cash, securities or other assets to a sponsoring organization. You’re entitled to an immediate tax deduction, but you can wait to choose the charities you want to support. Your funds stay invested until you make a grant. You can designate any IRS-qualified charity, but the sponsoring organization has the final say in where your funds go.


Take a Qualified Charitable Distribution
If you are age 70 ½ or or older, you can donate up to $100,000 annually tax free from an individual retirement account (IRA) to a charity. The funds must be transferred directly from your IRA to the charity to avoid paying taxes on the distribution. Donated funds can count toward your required minimum distributions for the year.


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Thomas Meaglia is an Investment Adviser Representative of Coppell Advisory Solutions LLC, dba, Fusion Capital Management, a registered investment adviser that only conducts business in jurisdictions where it is properly registered, or is excluded or exempted from registration requirements. Registration as an investment adviser is not an endorsement of the firm by securities regulators and does not mean the adviser has achieved a specific level of skill or ability. The firm is not engaged in the practice of law or accounting.
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